FDx Advisors Inc. bought a new stake in shares of Northern Trust Co. (NASDAQ:NTRS) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,583 shares of the asset manager’s stock, valued at approximately $264,000.
Other institutional investors have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Northern Trust by 8,671.4% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,228 shares of the asset manager’s stock valued at $126,000 after purchasing an additional 1,214 shares during the last quarter. Sageworth Trust Co increased its position in shares of Northern Trust by 296.3% during the 3rd quarter. Sageworth Trust Co now owns 1,407 shares of the asset manager’s stock valued at $144,000 after purchasing an additional 1,052 shares during the last quarter. Qube Research & Technologies Ltd increased its position in shares of Northern Trust by 64.2% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,813 shares of the asset manager’s stock valued at $187,000 after purchasing an additional 709 shares during the last quarter. MML Investors Services LLC purchased a new stake in shares of Northern Trust during the 3rd quarter valued at $201,000. Finally, Ausdal Financial Partners Inc. purchased a new stake in shares of Northern Trust during the 2nd quarter valued at $221,000. 79.12% of the stock is owned by hedge funds and other institutional investors.
Shares of NTRS opened at $88.93 on Friday. Northern Trust Co. has a fifty-two week low of $87.98 and a fifty-two week high of $115.61. The stock has a market capitalization of $20.89 billion, a P/E ratio of 18.41, a PEG ratio of 1.21 and a beta of 0.97. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.36.
Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, October 17th. The asset manager reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.03). Northern Trust had a return on equity of 15.75% and a net margin of 23.28%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the business posted $1.20 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. Sell-side analysts expect that Northern Trust Co. will post 6.59 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Friday, December 14th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Thursday, December 13th. Northern Trust’s payout ratio is presently 45.55%.
Several brokerages have recently issued reports on NTRS. Credit Suisse Group decreased their target price on Northern Trust from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday. Deutsche Bank decreased their target price on Northern Trust from $108.00 to $107.00 and set a “buy” rating for the company in a research report on Friday, November 16th. Wells Fargo & Co raised Northern Trust from a “market perform” rating to an “outperform” rating and set a $126.00 target price for the company in a research report on Wednesday, November 7th. BidaskClub raised Northern Trust from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Finally, Buckingham Research decreased their price objective on Northern Trust from $119.00 to $114.00 and set a “neutral” rating for the company in a report on Thursday, October 18th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $117.41.
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About Northern Trust
Northern Trust Corporation, a financial holding company, provides asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates through Corporate & Institutional Services (C&IS) and Wealth Management segments.
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